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WHAT TO DO NOW: The market has bounced back decently, though our market timing indicators are still looking iffy for now. Today’s bulletin is about Life360 (LIF), which is falling hard today despite a solid quarterly report. Given the abnormal action, we’re forced to sell and take what’s left of our profit. Our cash position will now be around 50%.

Thank goodness; the shutdown is over!

And that agreement (although not really agreeing on much!) has helped the markets to continue their upward momentum, albeit with a few hiccups. All eyes are on the Fed, as I write this, with expectations that it will once again lower rates by a quarter of a point.

The market is close to the high, and all eyes are on the Fed.

The market has priced in a 0.25% fed funds rate cut already. It could get ugly if the Fed doesn’t cut the rate on Wednesday. But that is unlikely. The rally in interest rate-sensitive stocks took place over the past few weeks. Now, those stocks are pulling back as investors fret over what the Chairman might say about future rate cuts in the minutes following the rate cut announcement.

Despite a quiet tone for much of last week, markets ended on a modestly upbeat note as interest rate-cut optimism firmed. Tech and growth names helped push the market higher on hopes the Federal Reserve will ease soon, while small caps and cyclicals got a lift on improving sentiment.

The number of companies coming public continues to pick up, and the table is being set for some massive AI IPOs in the next 12 to 18 months.

Despite a quiet tone for much of last week, markets ended on a modestly upbeat note as interest rate-cut optimism firmed. Tech and growth names helped push the market higher on hopes the Federal Reserve will ease soon, while small caps and cyclicals got a lift on improving sentiment.

WHAT TO DO NOW: The market continues to act fairly well, though most of our timing indicators haven’t really kicked into gear. We’re OK extending our line, but we’re also going slow and honoring stops on what we own as there are still lots of crosscurrents out there. Today’s bulletin is about Alnylam Pharmaceuticals (ALNY), which we’re selling today after it’s come under pressure this week following no addition to the S&P 500. We’ll hold the cash for now (near 60%) but could redeploy later this week.

Circle December 15 on your calendar. That’s the day the Supreme Court will likely let us know whether it decides to hear a major cannabis lawsuit. If it says yes, cannabis stocks will rally hard. Cannabis stocks may well even rally in the run-up to that date.

The suit challenges federal jurisdiction over cannabis in states where it is legal. We still won’t know the final outcome if the court decides to take up the case. So, any rally might be sellable for very short-term traders. Personally, I will continue to hold through, because the timing of any rescheduling news is uncertain.

It’s been a relatively quiet post-holiday week, albeit on the positive side—coming into today, most major indexes are in the black by less than 1%, continuing the generally good vibes seen from the pre-Thanksgiving low area.

We’re going to continue to hold our position in Credo Tech (CRDO), which is now up over 145% (since June), following the company’s strong Q2 FY26 report.

Shares of Argan (AGX) are trading down as of midday after the company missed revenue expectations in Q3 FY26 but beat on EPS. The pullback likely signals that AGX stock will be rangebound for a while – possibly in the 300 - 400 range – not that the run in shares is completely over.

Sell a Quarter of Centuri Holdings (CTRI)

The November pullback has highlighted the market’s new AI leaders—stocks that smart money was eager to buy once the market started bouncing. Here are a few we like now.

Selling in November, especially in leading growth stocks, hit the Magnificent 7 hard, but the best of the bunch—the Dynamic Duo—are hitting all-time highs.